Kaled to Manage MF for Institutional Owners

WESTBURY, NY-Anticipating demand from institutional owners who suddenly find themselves with the keys to rent-stabilized apartment properties, Kaled Management Co. has established a new division to serve these clients on a third-party basis. The locally-based Kaled already owns or manages nearly 6,500 rental apartments, co-ops and condominiums throughout New York City and Long Island.

“The third-party management we do today is for private owners, condos, HOAs,” Edward Kalikow, president of Kaled, tells GlobeSt.com. “The new division is being set up to capitalize on what we perceive to be a need from the institutional and lender side, or private owners who have gotten burned by overly aggressive projections on rent-stabilized properties.” The division, Kaled Residential Asset Management, will be led by Jordan Platt, the company’s VP of operations.

In a release, Kaled says its new division will specifically serve owners of individual apartment buildings and portfolios of rent-stabilized housing “to insure the successful maintenance of the property and enhance each asset for long-term ownership or disposition.” It will offer the accounting and back-office operational services, as well as on-site property management, and asset maintenance, including the planning and execution of capital improvements.